Sitestar’s(SYTE) shareholder meeting was held today, and it seems that I wasn’t the only one who withheld my votes for Steven Kiel and his cronies. There were 95,812,187 shares voted for directors. Officers and Directors collectively own 85,839,497 shares. I believe it is safe to assume that those were all voted and were all voted in favor of management’s slate.… Read More »
It won’t matter. Steven Kiel made sure of that when he seized control of Sitestar(SYTE) without a shareholder vote or a control premium. In fact, Mr. Kiel went from 6% of shares to 42.5% by buying new shares at a significant discount to market price. In an August 11 post on Corner of Berkshire and Fairfax, Mr. Kiel… Read More »
I hesitated for a long time before posting about Sitestar(SYTE) yesterday. Now that I have, I am gratified by the response. I have been contacted by a number of Sitestar shareholders, representing a significant ownership % of the company. Every one of them shared my concerns. It would appear that the only shareholders who don’t agree are the… Read More »